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                      Sealed Air: Dividend Announcement

                                  
                                          February 17, 2000



Contact:  Mary A. Coventry
          J. Ryan Flanagan



                  SEALED AIR CORPORATION ANNOUNCES
               QUARTERLY DIVIDEND ON PREFERRED SHARES
                                 AND
              VOLUNTARY "ODD-LOT" STOCK BUYBACK PROGRAM


      SADDLE  BROOK, N.J., Thursday, February 17, 2000 -  Sealed  Air
Corporation  (NYSE-SEE) announced today that its Board  of  Directors
has  declared  the regular quarterly cash dividend of  50  cents  per
share  payable  on  April 3, 2000 on the outstanding  shares  of  the
Company's  Series A Convertible Preferred Stock (NYSE-SEE  Pr  A)  to
stockholders  of record at the close of business on March  10,  2000.
The annual rate of dividends payable on this Preferred Stock is $2.00
per share.

     Sealed  Air  also announced today a voluntary program  to  offer
stockholders  with fewer than 100 shares of Sealed Air  Common  Stock
(NYSE-SEE) or Sealed Air Series A Convertible Preferred Stock  ("Odd-
Lots") an opportunity to sell all of those shares to the Company.

     The   program,   administered   by  Shareholder   Communications
Corporation, expires March 13, 2000, unless extended by  Sealed  Air.
Stockholders who choose to participate will receive a uniform market-
based price per share.  Participants will pay a processing fee of $15
per  account plus 12 cents per share.  Shares held in any Sealed Air-
sponsored  employee benefit plan are not eligible for  this  program.
Neither Sealed Air, the paying agents, nor Shareholder Communications
Corporation   makes  any  recommendation  as  to   whether   or   not
stockholders should participate in this program.

     Many  Sealed  Air stockholders owning fewer than 100  shares  of
Common  Stock or Preferred Stock of the Company received their shares
as a result of the merger with Cryovac in March 1998.  This voluntary
program  provides  stockholders with a convenient  means  of  selling
their shares.

     Program materials are being mailed to all eligible stockholders.
Questions  on  the Odd-Lot Program should be directed to  Shareholder
Communications Corporation at 1-800-649-0625.

     Sealed Air is engaged primarily in the manufacture and sale of a
complementary  line  of  food,  specialty  and  protective  packaging
materials  and systems.  To view the Company's latest financial  news
online via the World Wide Web, visit http://www.cfonews.com/see.


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